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FAR Part 31 Cost Principles Training Course

Date:	Tuesday, October 28th, 2008
Time:	8:15 a.m. - 4:45 p.m.
Cost:	$295 per attendee (Lunch is provided)
Course Format:	Classroom, with lecture and interactive discussion among participants
CPE hours:	8 hours
Location:	Beason & Nalley, Inc. 101 Monroe Street Huntsville, AL 35801 Click here for a map (pop-up window)
Registration Deadline:	Friday, October 24, 2008
Register:	Register Online or using FAX/Email Registration Form (PDF)

Event Instructors:


Mr. Michael E. Steen, Senior Managing Consultant	Mr. Darryl L. Walker, Owner

Course Description:

No other section of the Federal Acquisition Regulations command as much attention by procurement authorities and generate as much audit oversight as FAR Part 31 cost principles when it comes to bidding and billing costs to government customers. This small section of the FAR provides the biggest stick to auditors in questioning and disallowing billed costs for contracts subject to these provisions.

This one-day comprehensive course will enable audience participants to understand relevance, applicability, and compliance features of the most important cost principles provisions, and to understand the trap doors and problem issues that can arise when failing to comply with these important cost guidelines.

Instructors will highlight the most important provisions of the FAR Part 31 Cost Principles to include the following topics:

Contract applicability of cost principles
Accounting for unallowable costs
When costs are direct vs. indirect
What encompasses allocability and reasonableness
Consistency principle
Cost documentation standards
Advance agreements
Certification of indirect costs and penalties provisions
Audit trends in questioning certain costs

The course will also examine the allowability of some of the most sensitive and frequently misunderstood selected costs that are addressed in FAR Part 31.205. A few of the specific cost elements highlighted for discussion will include:

Employee morale and welfare
Advertising and public relations
Executive compensation
Organization costs
Professional and consulting fees
IR&D and B&P
Employee travel
Legal fees
Insurance
Selling and marketing

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